State Street appoints new senior managing director
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State Street appoints new senior managing director 01 October 2018London Reporter: Maddie Saghir
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State Street has appointed Matteo Andreetto as senior managing director and head of SPDR exchange-traded funds (ETF) business for Europe, the Middle East and Africa (EMEA), effective immediately.
Based in London, Andreetto will report to Rory Tobin, global head of State Street Global Advisors’ ETF business strategy in EMEA.
In his new role, Andreetto will lead the ETF sales teams and will work with colleagues across product development, marketing, capital markets, and infrastructure to deliver ETF products and services that meet client aspirations.
Most recently, Andreetto was CEO and head of Index Services at STOXX, part of Deutsche Borse Group.
Prior to this, Andreetto held senior positions in capital markets distribution leadership at firms including Unicredit, Bank of America, Merrill Lynch, and Goldman Sachs.
Tobin commented: “The European marketplace has been a key source of growth for the global SPDR ETF business, with particular investor interest in fixed income, equity sector and smart beta strategies.”
He continued: “We believe the European ETF market is in the early stages of developing its growth potential, with various secular trends providing a supportive backdrop for continued growth.”
“These trends include a greater focus on value for money in investing, increased requirements for transparency and liquidity in investment products, increased use of fixed income ETFs in portfolio management and a migration to fee-based advisory models in wealth management."
"Building on a proven track record in leading and growing distribution teams in Europe, Andreetto brings a number of capabilities we believe are essential for this next era of SPDR in EMEA.”
Andreetto added: “25 years into their existence, ETFs have shifted the way investors think about how they invest.”
“ETFs have become key building blocks when making asset allocation decisions and have enabled advisors to focus on investors outcomes with greater efficiency.”
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